UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 11-K/A
ANNUAL REPORT
(Mark One)
[x] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
For the fiscal year ended December 31, 2005
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the transition period from _____________ to _____________.
Commission file number 0-00981
-------
A. Full title of the plan and the address of the plan, if different from that of
the issuer named below:
PUBLIX SUPER MARKETS, INC. 401(k) SMART PLAN
B. Name of issuer of the securities held pursuant to the plan and the address of
its principal executive office:
PUBLIX SUPER MARKETS, INC.
3300 PUBLIX CORPORATE PARKWAY
LAKELAND, FLORIDA 33811
PUBLIX SUPER MARKETS, INC. 401(k) SMART PLAN
Index to Financial Statements, Supplemental Schedule and Exhibit
Report of Independent Registered Public Accounting Firm
Financial Statements:
Statements of Net Assets Available for Plan Benefits - December 31, 2005 and
December 31, 2004
Statements of Changes in Net Assets Available for Plan Benefits - Years ended
December 31, 2005 and December 31, 2004
Notes to Financial Statements
Supplemental Schedule:
Schedule H, Line 4i, Schedule of Assets (Held at End of Year) - December 31,
2005
Exhibit:
Exhibit 23, Consent of Independent Registered Public Accounting Firm
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
-------------------------------------------------------
The Administrative Committee
Publix Super Markets, Inc.
401(k) SMART Plan:
We have audited the accompanying statements of net assets available for plan
benefits of Publix Super Markets, Inc. 401(k) SMART Plan (the "Plan") as of
December 31, 2005 and 2004, and the related statements of changes in net assets
available for plan benefits for the years then ended. These financial statements
are the responsibility of the Plan's management. Our responsibility is to
express an opinion on these financial statements based on our audits.
We conducted our audits in accordance with the standards of the Public Company
Accounting Oversight Board (United States). Those standards require that we plan
and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the financial
statements. An audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating the overall
financial statement presentation. We believe that our audits provide a
reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in
all material respects, the net assets available for plan benefits of the Plan as
of December 31, 2005 and 2004, and the changes in net assets available for plan
benefits for the years then ended in conformity with U.S. generally accepted
accounting principles.
Our audits were performed for the purpose of forming an opinion on the basic
financial statements taken as a whole. The supplemental schedule, Schedule H,
Line 4i, Schedule of Assets (Held at End of Year) as of December 31, 2005, is
presented for the purpose of additional analysis and is not a required part of
the basic financial statements but is supplementary information required by the
Department of Labor's Rules and Regulations for Reporting and Disclosure under
the Employee Retirement Income Security Act of 1974. The supplemental schedule
is the responsibility of the Plan's management. The supplemental schedule has
been subjected to the auditing procedures applied in the audits of the basic
financial statements and, in our opinion, is fairly stated in all material
respects in relation to the basic financial statements taken as a whole.
KPMG LLP
June 27, 2006
Tampa, Florida
Certified Public Accountants
PUBLIX SUPER MARKETS, INC. 401(k) SMART PLAN
Statements of Net Assets Available for Plan Benefits
December 31, 2005 and 2004
2005 2004
---- ----
Assets
------
Investments, at fair value $935,950,122 731,779,572
Employer contribution receivables 16,625,528 15,523,453
------------ -----------
Total assets 952,575,650 747,303,025
------------ -----------
Liabilities
-----------
Excess contributions payable 3,934,199 3,537,706
------------ -----------
Total liabilities 3,934,199 3,537,706
------------ -----------
Net assets available for plan benefits $948,641,451 743,765,319
============ ===========
See accompanying notes to financial statements.
PUBLIX SUPER MARKETS, INC. 401(k) SMART PLAN
Statements of Changes in Net Assets Available for Plan Benefits
December 31, 2005 and 2004
2005 2004
---- ----
Additions to net assets attributed to:
Contributions:
Participant $ 80,755,260 74,159,223
Employer - stock 16,625,528 15,523,453
------------ -----------
Total contributions 97,380,788 89,682,676
------------ -----------
Investment income:
Net appreciation in fair value of
investments 146,873,893 105,414,907
Dividends 8,268,400 4,755,639
Interest 2,113,959 1,549,786
------------ -----------
Total investment income 157,256,252 111,720,332
------------ -----------
Total additions to plan assets 254,637,040 201,403,008
------------ -----------
Deductions from net assets attributed to:
Distributions to participants (49,308,243) (41,894,637)
Fees paid by participants (452,665) (443,164)
------------ -----------
Total deductions to plan assets (49,760,908) (42,337,801)
------------ -----------
Net additions to plan assets 204,876,132 159,065,207
Net assets available for plan benefits:
Beginning of year 743,765,319 584,700,112
------------ -----------
End of year $948,641,451 743,765,319
============ ===========
See accompanying notes to financial statements.
PUBLIX SUPER MARKETS, INC. 401(k) SMART PLAN
Notes to Financial Statements
December 31, 2005 and 2004
(1) Description of Plan and Summary of Accounting Policies
------------------------------------------------------
The following brief description of the Publix Super Markets, Inc.
401(k) SMART Plan (the "Plan") provides only general information.
Participants should refer to the Plan document or the summary plan
description for a complete description of the Plan provisions.
The Plan, which became effective January 1, 1995, is a voluntary
defined contribution plan subject to the provisions of the Employee
Retirement Income Security Act of 1974, as amended ("ERISA"). The Plan
was amended on March 17, 2004, July 30, 2004, December 8, 2004, July 1,
2005 and November 9, 2005, to reflect certain additions and changes to
various Plan provisions.
Employees of Publix Super Markets, Inc. and its wholly owned
subsidiaries, Publix Alabama, LLC and Publix Asset Management Company
(the "Company" or "Publix") are eligible to participate in the Plan six
months after their hire date, if they are at least 18 years of age. The
Plan year is a calendar year.
(a) Contributions
-------------
Eligible employees may contribute up to 10% of their annual
eligible compensation, subject to the maximum contribution
limits established by Federal law. Participants direct the
investment allocations of their contributions and the earnings
thereon among twelve investment fund options offered under the
Plan. The Company may make a discretionary annual matching
contribution to the Accounts of eligible participants of the
Plan as determined by the Company's Board of Directors. During
2005 and 2004, the Company's Board of Directors approved a match
of 50% of eligible contributions up to 3% of eligible wages, not
to exceed a maximum match of $750 per employee. The match, which
is determined as of the last day of the Plan year and funded by
the Company in the subsequent Plan year, was in the form of
common stock of Publix Super Markets, Inc. Participants may
direct the investment allocations of their matching
contributions and the earnings thereon by requesting a transfer
from the Publix Stock Fund to any of the other investment fund
options offered under the Plan. The Plan Administrator processes
transfer requests on the next valuation effective date for the
common stock of Publix Super Markets, Inc.
(b) Participant Accounts
--------------------
Two separate accounts are maintained for each participant, a
Savings Contribution Account and a Matching Contribution Account
(the "Accounts"). Plan earnings are allocated and credited to
the Accounts as of each valuation date. Each participant's share
of earnings is determined by the Plan Administrator, on a
weighted average basis, so that each participant receives a
pro-rata share. Forfeitures of non-vested Company contributions
by separated or former participants and of Accounts of separated
or former participants or beneficiaries that cannot be located
after two years are used to reduce future Company matching
contributions. Forfeitures, and earnings thereon, totaled
$82,813 and $79,566 for the years ended December 31, 2005 and
2004, respectively, and were used to reduce Company matching
contributions in both years.
(Continued)
PUBLIX SUPER MARKETS, INC. 401(k) SMART PLAN
Notes to Financial Statements
December 31, 2005 and 2004
(c) Vesting
-------
Participants are immediately vested in their contributions and
earnings thereon. Company matching contributions and earnings
thereon are 100% vested upon completing three years of credited
service, reaching age 60, total disability or death. Matching
contributions cannot be withdrawn or distributed until vested.
(d) Loans to Participants
---------------------
All actively employed Plan participants with available account
balances may apply for a loan from their Accounts. The minimum
amount a participant may borrow is $1,000. The maximum amount
that a participant may borrow is the lesser of: 1) 50% of the
balances in the participant's Savings Contribution Account and
vested Matching Contribution Account; or 2) $50,000, less the
participant's highest outstanding loan balance during the
previous twelve month period. However, any money held by the
participant in the Publix stock component of the Publix Stock
Fund cannot be borrowed. Participants may initiate one loan each
year and may only have one outstanding loan at a time. All legal
and administrative costs incurred as a result of a loan are paid
by the participant. The interest rate is determined by State
Street Bank and Trust Company as of the first day of each
calendar quarter based on the United States prime interest rate
as published in the Wall Street Journal. The interest rate on a
loan is fixed for the term of the loan.
A participant can choose repayment terms of up to five years.
Repayment of principal and interest are made through after-tax
payroll deductions each pay period. Repayment of principal and
interest are credited pro-rata to the participant's Savings
Contribution Account and Matching Contribution Account from
which the loan was originally funded and reinvested according to
the participant's current investment elections. Upon separation
of employment, all unpaid principal and accrued interest on any
loan outstanding is immediately due and payable. Participants
may repay a loan in total at any time after the loan has been in
effect for at least 90 days and participants must wait 30 days
between paying off one loan and initiating a new loan.
(e) Termination of Plan
-------------------
The Company expects to continue the Plan indefinitely, but is
not contractually obligated to do so. The Company reserves the
right to discontinue its contributions at any time and the right
to amend or discontinue the Plan at any time. If the Plan is
ever terminated, participants will be fully vested in all
amounts credited to their Matching Contribution Account.
(f) Distribution of Benefits
------------------------
Benefits are recorded when paid.
Upon reaching age 59 1/2, a participant who is actively employed
by the Company may elect to withdraw all or a portion of his/her
Savings Contribution Account and the vested portion of his/her
Matching Contribution Account.
A participant who reaches age 70 1/2 and who is actively
employed by the Company may elect to begin receiving a
distribution of benefits on or before April 1st of the calendar
year following the year in which the participant reaches age 70 1/2.
(Continued)
-2-
PUBLIX SUPER MARKETS, INC. 401(k) SMART PLAN
Notes to Financial Statements
December 31, 2005 and 2004
Upon separation of service, retirement, disability or death,
participants or their beneficiaries may elect to receive full
distribution of their Savings Contribution Account and their
vested Matching Contribution Account as of the valuation date
immediately preceding the date of distribution, subject to
certain restrictions on the sale of Publix stock. If the value
of the participant's vested Accounts was $5,000 or less prior to
March 28, 2005, or is $1,000 or less, on or after March 28,
2005, the participant will receive an automatic distribution
from the Plan no later than 60 days after the end of the Plan
year in which the participant separates from employment. If the
value of the participant's Savings Contribution Account and
vested Matching Contribution Account exceeded $5,000 prior to
March 28, 2005, or exceeds $1,000 on or after March 28, 2005,
and the participant is not 62 years of age or older, the
participant may elect to defer distribution. Payment of a
deferred distribution must be made to a participant no later
than 60 days after the end of the Plan year in which the
participant reaches age 62.
If a deceased participant's Savings Contribution Account and
vested Matching Contribution Account exceeded $5,000 prior to
March 28, 2005, or exceeds $1,000 on or after March 28, 2005,
distribution must be made to a participant's beneficiary other
than a surviving spouse by December 31 of the calendar year
containing the fifth anniversary of the participant's death. If
the beneficiary is the participant's surviving spouse, such
beneficiary may defer distribution until December 31 of the
calendar year in which the participant would have reached age 70 1/2
or by December 31 of the calendar year immediately following
the calendar year in which the participant died, whichever is
later.
(g) Basis of Accounting
-------------------
The financial statements of the Plan are prepared using the
accrual basis of accounting.
(h) Investments
-----------
The market value of Publix Super Markets, Inc. common stock is
based upon quarterly appraisals prepared by an independent
appraiser. The fair value of other investments is determined
based upon quoted market prices. Purchases and sales of
securities are recorded on a trade date basis. Dividends are
recorded on the ex-dividend date.
Investment securities are exposed to various risks, such as
interest rate, market and credit risks. Due to the level of risk
associated with certain investment securities, it is at least
reasonably possible that changes in the values of investment
securities will occur in the near term and that such changes
could materially affect the amounts reported in the financial
statements and schedule of the Plan.
(i) Use of Estimates
----------------
The preparation of financial statements in conformity with
accounting principles generally accepted in the United States of
America requires the Plan to make estimates and assumptions that
affect the reported amounts of net assets available for plan
benefits and disclosure of contingent assets and liabilities as
of the date of the financial statements and the reported amounts
of changes in net assets available for plan benefits during the
reporting period. Actual results could differ from those
estimates.
(Continued)
-3-
PUBLIX SUPER MARKETS, INC. 401(k) SMART PLAN
Notes to Financial Statements
December 31, 2005 and 2004
(2) Administration of the Plan
--------------------------
The Primary Trustee for the Plan, State Street Bank and Trust Company,
is responsible for maintaining custody of the investment funds and
other assets in which the employee contributions are invested,
excluding Publix stock. Tina P. Johnson is the Trustee responsible for
maintaining custody of the Publix stock component of the Publix Stock
Fund. CitiStreet LLC serves as the third-party Plan Administrator.
Officers and employees of the Company perform certain administrative
functions for the Plan with no compensation from the Plan.
The Plan administration costs are paid by Publix, except as follows:
- As a result of an amendment to the Plan effective August 1, 2005,
administrative fees of $42,270 for the year ended December 31,
2005 were deducted from the Accounts of former Publix employees
and beneficiaries.
- Loan fees of $404,232 and $439,665 for the years ended December 31,
2005 and 2004, respectively, were deducted from the Accounts of Plan
participants who received loans.
- Redemption fees of $6,163 and $3,499 for the years ended December 31,
2005 and 2004, respectively, were deducted from the Accounts
of Plan participants who had trading activity that met the
definition of "market timing" under the applicable investment fund.
(3) Investments
-----------
The Plan consists of the following investments:
(a) American Funds EuroPacific Growth (R-3) Fund
--------------------------------------------
This mutual fund seeks long-term capital growth by investing in
stocks of attractive valued companies located in Europe and the
Pacific Basin. Effective January 1, 2005, this fund replaced the
SSgA International Growth Opportunities Fund.
(b) Managers Special Equity Fund
----------------------------
This mutual fund seeks long-term capital growth by investing in
common and preferred stocks of companies with small and medium
market capitalizations with the potential for capital
appreciation as a result of earnings growth or improvements in
equity valuation.
(c) SSgA Strategic Balanced Funds
-----------------------------
These funds are institutional ERISA commingled funds that use an
asset allocation approach to provide for both current income and
capital appreciation.
The underlying investments of these funds are stock and fixed
income funds. These funds offer diversification by blending risk
across different types of investments (i.e., conservative,
moderate and aggressive). The three SSgA Strategic Balanced
Funds are:
SSgA Aggressive Strategic Balanced Fund
---------------------------------------
This fund seeks to provide capital growth. This fund seeks to
match a composite benchmark that is made up of 85% stocks and
15% bonds. The fund provides diversification of returns and
market risk by incorporating a broad set of asset classes.
SSgA Moderate Strategic Balanced Fund
-------------------------------------
This fund seeks to provide capital growth with some income for
stability. This fund seeks to match a composite benchmark that
is made up of 55% stocks and 45% bonds. The fund provides
diversification of returns and market risk by incorporating a
broad set of asset classes.
(Continued)
-4-
PUBLIX SUPER MARKETS, INC. 401(k) SMART PLAN
Notes to Financial Statements
December 31, 2005 and 2004
SSgA Conservative Strategic Balanced Fund
-----------------------------------------
This fund seeks to provide income and a modest level of capital
growth. The fund seeks to match a composite benchmark that is
made up of 25% stocks and 75% bonds. The fund provides
diversification of returns and market risk by incorporating a
broad set of asset classes.
(d) SSgA S&P MidCap Index Fund
--------------------------
This fund is an institutional ERISA commingled fund. The fund
seeks to replicate the Standard & Poor's MidCap 400 Index ("S&P
MidCap 400 Index"). The fund buys and holds stocks in the same
market-weighted proportions as the S&P MidCap 400 Index.
Effective August 31, 2005, this fund was added as a new
investment fund option to the Plan.
(e) Smith Barney Large Cap Growth (A) Fund
--------------------------------------
This mutual fund seeks long-term capital growth by investing
primarily in securities of companies with large market
capitalizations. The fund attempts to identify stocks of
established companies which are dominant in their industries due
to product, distribution or service strength. Effective April 7,
2006, this fund was renamed the Legg Mason Partners Large Cap
Growth (A) Fund.
(f) Davis New York Venture (A) Fund
-------------------------------
This mutual fund seeks to invest in growing companies that are
selling at value prices and holds on to them for the long term.
The fund seeks companies recognizable as strong global leaders,
companies that are under-followed or overlooked but have strong
business fundamentals, and companies that are controversial and
face negative headlines.
(g) SSgA S&P 500 Index Fund
-----------------------
This mutual fund seeks to replicate the Standard & Poor's 500
Index ("S&P 500 Index"), an index made up of 500 common stocks
of United States companies that is generally considered to be
representative of the overall United States stock market. The
fund buys and holds stocks in the same market-weighted
proportions as the S&P 500 Index.
(h) PIMCO Total Return Fund
-----------------------
This mutual fund seeks maximum total return, investing for both
current income and capital growth, consistent with preservation
of capital and prudent investment management. The fund focuses
on intermediate maturity, fixed income securities that can
include United States government and corporate bond securities,
mortgage and other asset-backed securities, United States
dollar-denominated securities of non-United States issuers and
money market instruments.
(i) SSgA Stable Value Fund
----------------------
This fund is an institutional ERISA commingled fund. The fund
seeks to preserve capital while maintaining a rate of return
comparable with other conservative fixed income investments. The
fund invests in investment contracts issued by insurance
companies, banks and other financial institutions as well as
enhanced short-term investment products.
(Continued)
-5-
PUBLIX SUPER MARKETS, INC. 401(k) SMART PLAN
Notes to Financial Statements
December 31, 2005 and 2004
(j) Publix Stock Fund
-----------------
This fund includes two components: shares of Publix stock and
cash awaiting investment in Publix stock. Cash awaiting
investment in Publix stock is invested in a short-term fixed
income funding vehicle, SSgA Yield Enhanced Short Term
Investment Fund, an institutional ERISA commingled fund. The
cash component of this fund includes employee contributions and
loan repayments, transfers from other investments to purchase
Publix stock, dividends earned on Publix stock and income earned
on all of these deposits. The cash component of this fund is
used to purchase Publix stock on specified purchase dates.
The fair value of investments in the following funds each represented
5% or more of the Plan's net assets available for plan benefits.
December 31,
------------
2005 2004
---- ----
Publix Stock Fund $714,286,154 519,984,705
Smith Barney Large Cap Growth (A) Fund 51,492,421 52,875,428
During 2005 and 2004, the Plan's investments (including gains on
investments bought and sold, as well as held during the year)
appreciated in value by $146,873,893 and $105,414,907, respectively, as
follows:
Year Ended December 31,
-----------------------
2005 2004
---- ----
Publix Stock Fund $140,003,872 97,624,730
Mutual Funds 4,622,001 4,471,855
Commingled Funds 2,248,020 3,318,322
------------ -----------
$146,873,893 105,414,907
============ ===========
(4) Employer Contribution Receivables
---------------------------------
The employer contribution receivables are contributed in the form of
common stock of Publix Super Markets, Inc. The matching contribution,
net of forfeitures, of $16,625,528 for the 2005 Plan year was recorded
as a receivable in the financial statements as of and for the year
ended December 31, 2005 and funded by the Company in the 2006 Plan year
with the transfer of 206,528 shares of common stock. The
matching contribution, net of forfeitures, of $15,523,453 for the 2004
Plan year was recorded as a receivable in the financial statements as
of and for the year ended December 31, 2004 and funded by the Company
in the 2005 Plan year with the transfer of 242,554 shares of
common stock.
Participants who are eligible to receive a matching contribution may
request a transfer of the match and the earnings thereon from the
Publix Stock Fund to any of the other investment fund options. The Plan
Administrator processes transfer requests on the next valuation
effective date for the common stock of Publix Super Markets, Inc.
Valuation effective dates are generally March 1, May 1, August 1 and
November 1.
(Continued)
-6-
PUBLIX SUPER MARKETS, INC. 401(k) SMART PLAN
Notes to Financial Statements
December 31, 2005 and 2004
(5) Reconciliation of Financial Statements to Form 5500
---------------------------------------------------
The following is a reconciliation of net assets available for plan
benefits per the financial statements to the Form 5500:
December 31,
------------
2005 2004
---- ----
Net assets available for plan benefits
per the financial statements $948,641,451 743,765,319
Less: Amounts allocated to withdrawing
participants (2,208,363) 1,916,212)
------------ -----------
Net assets available for plan benefits
per the Form 5500 $946,433,088 741,849,107
============ ===========
The following is a reconciliation of benefit payments to participants per
the financial statements to the Form 5500:
Year ended December 31,
-----------------------
2005 2004
---- ----
Benefit payments to participants per the
financial statements $ 49,308,243 41,894,637
Add: Amounts allocated to withdrawing
participants at end of year 2,208,363 1,916,212
Less: Amounts allocated to withdrawing
participants at beginning of year (1,916,212) (1,411,180)
Less: Accrued excess contributions payable
at end of year (3,934,199) (3,537,706)
------------ -----------
Benefit payments to participants per the
Form 5500 $ 45,666,195 38,861,963
============ ===========
Distributions of excess contributions for
years ended December 31, 2005 and 2004
per the Form 5500 $ 3,934,199 3,537,706
============ ===========
Amounts allocated to withdrawing participants are recorded on the Form
5500 for benefit claims that have been processed and approved for
payment on or before December 31, 2005 and 2004, but not yet paid as of
that date. Distributions of excess contributions and any allocable
income that were paid for the 2005 and 2004 Plan years were recorded as
a liability in the financial statements as of and for the years ended
December 31, 2005 and 2004.
(Continued)
-7-
PUBLIX SUPER MARKETS, INC. 401(k) SMART PLAN
Notes to Financial Statements
December 31, 2005 and 2004
(6) Related-Party Transactions
--------------------------
Certain Plan investments are commingled funds and mutual funds managed
by State Street Global Advisors (SSgA), the investment management
division of State Street Bank and Trust Company, which is the Primary
Trustee for the Plan.
The Smith Barney Large Cap Growth (A) Fund is a mutual fund that was
managed by Smith Barney Fund Management LLC. Citigroup Asset Management
serves as the asset management arm of Citigroup Inc. and provides
investment management services through various affiliated entities,
which included Smith Barney Fund Management LLC. However, Citigroup
Inc. sold substantially all of Citigroup Asset Management to Legg Mason
on December 1, 2005, and the Smith Barney Large Cap Growth (A) Fund was
renamed the Legg Mason Partners Large Cap Growth (A) Fund on April 7,
2006.
Citigroup Inc. and State Street Bank and Trust Company have 50/50
ownership interests in CitiStreet LLC, the third-party Plan
Administrator, as a joint venture. Therefore, the transactions
involving these investments, in addition to Publix Super Markets, Inc.
common stock, qualify as party-in-interest transactions.
The Plan received dividends on Publix Super Markets, Inc. common stock
amounting to $5,819,230 and $3,457,722 for the years ended December 31,
2005 and 2004, respectively. Such dividends are invested in the Publix
Stock Fund.
(7) Tax Status
----------
The Plan, as amended and restated as of July 1, 2001, received a
favorable tax determination letter, dated April 30, 2002, from the
Internal Revenue Service under Section 401(a) of the Internal Revenue
Code (the "Code"), as amended. As such, the Plan's design is exempt
from Federal income taxes under Code Section 501(a). Though the
Plan has been amended since July 1, 2001, the Plan Administrator
believes the Plan continues to be qualified and the Plan has been and
is currently being operated in compliance with the applicable
requirements of the Code and the Plan document.
-8-
Supplemental Schedule
PUBLIX SUPER MARKETS, INC. 401(k) SMART PLAN
Schedule H, Line 4i, Schedule of Assets (Held at End of Year)
December 31, 2005
Number of Fair
Name of Issuer and Title of Issue Units/Shares Cost Value
--------------------------------- ------------ ---- -----
Marketable:
American Funds EuroPacific
Growth (R-3) Fund 232,789 $ 8,478,889 9,453,552
Managers Special Equity Fund 121,270 9,444,288 10,522,556
SSgA Strategic Balanced Funds:
SSgA Aggressive Strategic
Balanced Fund * 561,665 5,620,587 6,687,252
SSgA Moderate Strategic
Balanced Fund * 806,348 8,419,392 9,899,562
SSgA Conservative Strategic
Balanced Fund * 299,686 3,343,842 3,743,792
SSgA S&P MidCap Index Fund * 16,682 548,902 567,129
Smith Barney Large Cap
Growth (A) Fund * 2,239,775 45,079,912 51,492,421
Davis New York Venture (A) Fund 337,331 9,365,696 11,368,041
SSgA S&P 500 Index Fund * 1,445,285 26,714,617 29,700,615
PIMCO Total Return Fund 1,316,454 14,128,795 13,822,768
SSgA Stable Value Fund * 19,832,074 31,295,888 34,165,110
Publix Stock Fund
-----------------
Marketable:
SSgA Yield Enhanced Short Term
Investment Fund * 1,642,356 17,964,217 18,018,143
Non-Marketable:
Common stock of Publix Super
Markets, Inc. * 8,649,292 387,298,609 696,268,011
Participants' Loans at rates of
4.00% to 9.50% --- 40,241,170
------------ ----------
$567,703,634 935,950,122
============ ===========
* Parties-in-interest
-9-
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
trustees (or other persons who administer the Publix Super Markets, Inc. 401(k)
SMART Plan) have duly caused this annual report to be signed on its behalf by
the undersigned hereunto duly authorized.
PUBLIX SUPER MARKETS, INC.
401(k) SMART PLAN
Date: June 29, 2006 By: /s/Linda S. Kane
---------------------------
Linda S. Kane
Vice President Benefits
Administration and
Assistant Secretary
Publix Super Markets, Inc.,
Plan Administrator